PT Summarecon Investment Property entered into an agreement to acquire Kelapa Gading Mall 1, 2, 3 and 5, La Piazza and Gading Food City from Summarecon Agung tbk PT for IDR 6.2 trillion.
September 03, 2015 at 12:00 am
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PT Summarecon Investment Property entered into an agreement to acquire Kelapa Gading Mall 1, 2, 3 and 5, La Piazza and Gading Food City from Summarecon Agung tbk PT (JKSE:SMRA) for IDR 6.2 trillion on September 1, 2015. Assets that will be sold in Phase 1 transaction are Kelapa Gading Mall 3, Kelapa Gading Mall 5, La Piazza and Gading Food City for IDR 3.91 trillion and are expected to be closed by November 2015. Assets that will be sold in Phase 1 transaction are Kelapa Gading Mall 1 and 2 for IDR 2.28 trillion and are expected to be sold by October 2019.
PT Summarecon Agung Tbk is an Indonesia-based company engaged in real estate construction and development. The Companyâs segments include Property Development, Investment Property and Leisure and Hospitality. The property development business unit represents its core business. The business unit builds property projects for sale, such as houses, apartments, residential land plots, and commercial shophouses. The Companyâs Investment Property segment develops, owns, and operates a number of investment properties, such as shopping malls and recreational parks, all of which are located in the Company's development complex and are an integral part of an integrated township that combines residential and commercial areas. Its Leisure and Hospitality segment relates to sports club and hotel business. It has also developed other properties, including offices and residential buildings which are intended for its own corporate use and/or to further support facilities in its township.
PT Summarecon Investment Property entered into an agreement to acquire Kelapa Gading Mall 1, 2, 3 and 5, La Piazza and Gading Food City from Summarecon Agung tbk PT for IDR 6.2 trillion.
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